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Maternity Insurance Plans Cover Delivery Charges: Cover pregnancy expenses with maternity insurance policy. PolicyBazaar offers unbiased comparison of plans from the top insurers.
You are ready to move on the next important phase of life - Parenthood. Surely, it is a joyful decision but are you prepared? Yes, parenthood comes with a price. Rearing a child is an expensive affair. Hospital stay, delivery procedure, regular tests and medicines; all come with a heavy price. Maternity insurance plan can help ease off the rising costs so that you can enjoy the happiest moment of your life without any stress.
It is usually offered as a rider with your main health insurance policy. Maternity insurance covers expenditure related to both caesarean and normal delivery. Health insurance with maternity benefit is a right way to lower the burden on your pocket. If you are a working professional, you should check whether your employer offers maternity in the group policy or not. In a majority of corporate group policies, maternity is an add-on benefit with a sub-limit not exceeding Rs 50,000.
Ideally, you should apply for maternity insurance before you conceive. Most insurers will deny cover if you are already pregnant. This happens because insurance companies term this case as pre-existing. Moreover, maternity policies have a waiting period of 3-4 years before benefits come into play. So, the rule of early bird gets the worm applies here. The key is proper planning.
Here is a list of coverages available in a plan. Although, it may vary as per the insurer but broadly, every maternity health insurance plan will cover following expenses-
A thorough understanding of exclusions in pregnancy insurance is imperative to ensure the optimum utilization of the plan. Below are expenses which are not included in the plan
Like a coin has two sides, maternity insurance has a few limitations too. Firstly, the sum insured may not be sufficient enough to cover maternity expenses. Insurance cap could vary between Rs 20,000- Rs 70,000, which may not be enough to cover delivery costs. Secondly, waiting period is usually 3 or 4 years. Though claims cannot be declined if the policy has been bought but there might be situations when the insurer refuses to pay in case of late pregnancy (35 years and above).
Maternity is a new phase in your life and you should welcome it with a smile on your smile. Do away with all the stress beads on your forehead and buy a maternity coverage, the right one! Yes, when you compare at PolicyBazaar you will see that there are finer points between various plans that can make a lot of difference during claim time. So, to avail the benefits of maternity coverage you should compare the health and other maternity insurance plans and choose the one that fits your needs the best. Maternity insurance coverage is usually a part of health insurance policy.
Choose wisely and enjoy parenthood!
And, one more thing, once you have a baby then don’t forgot to check our child insurance plans.
PolicyBazaar is with you, always!